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Daily Briefing March 3 2021

Free to read: Liner shipping leaders look to mutual commitments in contracts | Genco chief sees ‘perfect rainbow’ over dry bulk market | Shipping’s transparency revolution

Good morning. Here’s our quick view of everything you need to know today.

The Lloyd’s List Daily Briefing is brought to you by the Lloyd’s List News Desk.

What to watch   |   Analysis   |   Markets   |   In other news




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What to watch


As the annual transpacific contracting season gets under way, container lines are looking for more stability and commitment from customers in an effort to obtain better insight into demand and avoid the instability in the market witnessed over the past several months.

Genco, a US-listed bulker owner, is positive on freight rates for both this and next year.

Global trade efficiency relies on it, shipping’s decarbonisation transition demands it and both financial and security regulators are monitoring it — the maritime sector’s future is focused on issues of transparency at every level.


Analysis


Insurance cover on an Israeli-owned car carrier damaged in an explosion is unlikely to be invalidated if the blast was the act of a hostile state, according to a maritime disputes specialist.

China’s exports are on track to return to pre-pandemic levels despite the initial shock of the coronavirus last year. The country has led the container industry’s recovery, while increasing its market share of global box trade in the process.

The key to unlocking the maritime transparency treasure chest is access to comprehensive data. What do you do if parts of the data key are removed or locked away?


Markets


Low productivity at US terminals is one of the main factors behind the slowdown in container transport that is seeing ships stuck at anchor and carriers unable to move containers back to export markets.

Carriers, shippers, and forwarders continue to face uncertainties even as the economic outlook brightens as the effects of the coronavirus outbreak start to be brought under some control.

Seaborne imports into India and China are the key drivers behind liquefied petroleum gas demand growth, boosting average sailing distances for very large gas carriers.


In other news


Proposed regulatory changes will create an ‘impossible mission’ for shipowners and could even increase emissions, BIMCO’s deputy secretary-general has warned.

France’s CMA CGM has further expanded its Mediterranean port presence with a deal to buy a stake in Spain’s Total Terminal International Algeciras.

The UK’s maritime industry has pledged to make a positive mental health difference through awareness, action and additional support.

UK ports are looking to the government to assist with the development of shore power installations for ships as they anticipate increasing pressure to achieve net-zero emissions.

Sri Lanka’s Hambantota Port has launched a wholesale supply service of marine bunker fuels backed by Chinese state oil major Sinopec.

A tanker linked to troubled Singapore tycoon OK Lim’s Hin Leong Trading oil company has been arrested in Singapore.

First Ship Lease Trust is continuing its fleet clearout as it counts a small net gain from flipping a pair of product tanker newbuildings.

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